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News - Press Release


Wednesday, January 17, 2007

BP Introduces ampm Franchise in Pittsburgh Area

CHICAGO, IL January 17, 2007 - NRC Realty & Capital Advisors, LLC (NRC) announced today that it has been retained by BP to coordinate the sale of 31 existing BP branded sites in the Pittsburgh area to franchise sites. Buyers will initially operate these franchise sites under the BP Connect brand and complete their convenience store conversion and rebranding to ampm after closing. Franchising these sites as ampm is in line with BP's strategic plans to expand and grow the brand to reach more consumers with its products and services.

In addition to the ampm franchises, BP is offering 10 other Pittsburgh area sites as dealer-owned and operated BP branded gasoline stations that include buildings, fixtures and real property, and 8 other properties for sale for other commercial use.

With the introduction of BP ampm in the Eastern U.S., including in Indianapolis and Pittsburgh, BP is leveraging the significant ampm franchising experience and market recognition in the Western U.S. and internationally. There are about 1,000 franchisee-owned and/or operated ampm franchise stores in the Western US. Internationally, there are approximately 2,000 ampm stores in Brazil, Japan and Mexico. While similar, the Eastern and Western U.S. ampm franchise offers are distinct from one another and subject to separate franchise documentation.

"The BP brand is distinctive in the Pittsburgh area," said Hope Mineo, Managing Director of NRC. "We are thrilled to continue to assist BP in accelerating the expansion of its franchise brands. This is a great "ground floor" franchising opportunity. Franchisees become a part of ampm branding and own the real estate, bricks and mortar of the business."

"Our goal is to build and recruit a franchise network East of Rockies that complements our already distinctive BP brand," said Ben Amante, BP's vice president of franchising in the U.S. "We are offering franchise buyers the rare opportunity to purchase a franchise with real estate rights. We also see an opportunity to reflect the diverse communities where we operate by appealing to minority business people looking to franchise in the community. We look forward to building a strong network of franchisees to help us grow our business and deliver our products and services to more consumers."

The BP sites are being sold through NRC's sealed bid sale process. NRC must receive sealed bids by March 13, 2007. Please contact NRC for bi